You are on page 1of 46

A

BANKING MANAGEMENT
REPORT
ON
CANARA BANK

Submitted To:
Mr. Ujjal Mehta
Faculty: BM

Submitted by:
Chaudhary Mukesh J.
Roll No: 46
Div: A

V.M. Patel Institute of Management

Ganpat University

Kherva.

2009

1
History of Banking
The first banks were probably the religious temples of the ancient world, and were
probably established sometime during the third millennium B.C. Banks probably
predated the invention of money. Deposits initially consisted of grain and later other
goods including cattle, agricultural implements, and eventually precious metals such as
gold, in the form of easy-to-carry compressed plates. Temples and palaces were the safest
places to store gold as they were constantly attended and well built. As sacred places,
temples presented an extra deterrent to would-be thieves. There are extant records of
loans from the 18th century BC in Babylon that were made by temple priests/monks to
merchants. By the time of Hammurabi's Code, banking was well enough developed to
justify the promulgation of laws governing banking operations.

Ancient Greece holds further evidence of banking. Greek temples, as well as private and
civic entities, conducted financial transactions such as loans, deposits, currency
exchange, and validation of coinage. There is evidence too of credit, whereby in return
for a payment from a client, a moneylender in one Greek port would write a credit note
for the client who could "cash" the note in another city, saving the client the danger of
carting coinage with him on his journey. Pythius, who operated as a merchant banker
throughout Asia Minor at the beginning of the 5th century B.C., is the first individual
banker of whom we have records. Many of the early bankers in Greek city-states were
“metics” or foreign residents. Around 371 B.C., Pasion, a slave, became the wealthiest
and most famous Greek banker, gaining his freedom and Athenian citizenship in the
process.

The fourth century B.C. saw increased use of credit-based banking in the Mediterranean
world. In Egypt, from early times, grain had been used as a form of money in addition to
precious metals, and state granaries functioned as banks. When Egypt fell under the rule
of a Greek dynasty, the Ptolemies (332-30 B.C.), the numerous scattered government
granaries were transformed into a network of grain banks, centralized in Alexandria
where the main accounts from all the state granary banks were recorded. This banking
network functioned as a trade credit system in which payments were affected by transfer
from one account to another without money passing.

In the late third century B.C., the barren Aegean island of Delos, known for its
magnificent harbor and famous temple of Apollo, became a prominent banking center. As
in Egypt, cash transactions were replaced by real credit receipts and payments were made
based on simple instructions with accounts kept for each client. With the defeat of its
main rivals, Carthage and Corinth, by the Romans, the importance of Delos increased.
Consequently it was natural that the bank of Delos should become the model most closely
imitated by the banks of Rome.

Ancient Rome perfected the administrative aspect of banking and saw greater regulation
of financial institutions and financial practices. Charging interest on loans and paying
interest on deposits became more highly developed and competitive. The development of
Roman banks was limited, however, by the Roman preference for cash transactions.

2
During the reign of the Roman emperor Gallienus (260-268 AD), there was a temporary
breakdown of the Roman banking system after the banks rejected the flakes of copper
produced by his mints. With the ascent of Christianity, banking became subject to
additional restrictions, as the charging of interest was seen as immoral. After the fall of
Rome, banking was abandoned in Western Europe and did not revive until the time of the
crusades.

Religious restrictions on interest

Most early religious systems in the ancient Near East, and the secular codes arising from
them, did not forbid usury. These societies regarded inanimate matter as alive, like plants,
animals and people, and capable of reproducing itself. Hence if you lent 'food money', or
monetary tokens of any kind, it was legitimate to charge interest.[3] Food money in the
shape of olives, dates, seeds or animals was lent out as early as c. 5000 BC, if not earlier.
Among the Mesopotamians, Hittites, Phoenicians and Egyptians, interest was legal and
often fixed by the state. But the Jews took a different view of the matter.

The Torah and later sections of the Hebrew Bible criticize interest-taking, but
interpretations of the Biblical prohibition vary. One common understanding is that Jews
are forbidden to charge interest upon loans made to other Jews, but allowed to charge
interest on transactions with non-Jews, or Gentiles. However, the Hebrew Bible itself
gives numerous examples where this provision was evaded.

During Late Antiquity and Middle Ages

Jews were ostracized from most professions by local rulers, the Church and the guilds
and so were pushed into marginal occupations considered socially inferior, such as tax
and rent collecting and moneylending, while the provision of financial services was
increasingly demanded by the expansion of European trade and commerce.

Medieval trade fairs, such as the one in Hamburg, contributed to the growth of banking in
a curious way: moneychangers issued documents redeemable at other fairs, in exchange
for hard currency. These documents could be cashed at another fair in a different country
or at a future fair in the same location. If redeemable at a future date, they would often be
discounted by an amount comparable to a rate of interest. Eventually, these documents
evolved into bills of exchange, which could be redeemed at any office of the issuing
banker. These bills made it possible to transfer large sums of money without the
complications of hauling large chests of gold and hiring armed guards to protect the gold
from thieves.

Beginning around 1100s, the need to transfer large sums of money to finance the
Crusades stimulated the re-emergence of banking in Western Europe. In 1156, in Genoa,

3
occurred the earliest known foreign exchange contract. Two brothers borrowed 115
Genoese pounds and agreed to reimburse the bank's agents in Constantinople the sum of
460 bezants one month after their arrival in that city. In the following century the use of
such contracts grew rapidly, particularly since profits from time differences were seen as
not infringing canon laws against usury. In 1162, King Henry the II levied a tax to
support the crusades -- the first of a series of taxes levied by Henry over the years with
the same objective. The Templars and Hospitallers acted as Henry's bankers in the Holy
Land. The Templars' wide flung, large land holdings across Europe also emerged in the
1100-1300 time frame as the beginning of Europe-wide banking, as their practice was to
take in local currency, for which a demand note would be given that would be good at
any of their castles across Europe, allowing movement of money without the usual risk of
robbery while traveling.

By 1200 there was a large and growing volume of long-distance and international trade in
a number of agricultural commodities and manufactured goods in western Europe; some
of the goods traded during that period included wool, finished cloth, wine, salt, wax and
tallow, leather and leather goods, and weapons and armour. Individual trading concerns
and combines often specialized in one or more of these, as did individual producers;
because a large amount of capital was required to establish, e.g., a cloth manufacturing
business, only the largest firms could diversify. As a result, businesses and clusters of
businesses tended to market fairly narrow product lines. Big firms like the Medici bank
could and did specialize; the Medici’s manufacturing division had a number of
manufacturing facilities producing many different types of cloth. Perhaps the best
example of product policy comes from the Cistercian monastic order, where individual
monasteries and granges tended to specialize in particular agricultural products or types
of industrial production, usually with an eye to meeting particular local or regional
market needs.

Ironically, the Papal bankers were the most successful of the Western world, though often
goods taken in pawn were substituted for interest in the institution termed the Monte di
Pietà. When Pope John XXII (born Jacques d'Euse (1249 - 1334) was crowned in Lyon in
1316, he set up residency in Avignon. Civil war in Florence between the rival Guelph and
Ghibelline factions resulted in victory for a group of Guelph merchant families in the
city. They took over papal banking monopolies from rivals in nearby Siena and became
tax collectors for the Pope throughout Europe. In 1306, Philip IV expelled Jews from
France. In 1307 Philip had the Knights Templar arrested and had gotten hold of their
wealth, which had become to serve as the unofficial treasury of France. In 1311 he
expelled Italian bankers and collected their outstanding credit. In 1327, Avignon had 43
branches of Italian banking houses. In 1347, Edward III of England defaulted on loans.
Later there was the bankruptcy of the Peruzzi (1374) and Bardi (1353). The
accompanying growth of Italian banking in France was the start of the Lombard
moneychangers in Europe, who moved from city to city along the busy pilgrim routes
important for trade. Key cities in this period were Cahors, the birthplace of Pope John
XXII, and Figeac. Perhaps it was because of these origins that the term Lombard is
synonymous with Cahorsin in medieval Europe, and means 'pawnbroker'. Banca Monte
dei Paschi di Siena SPA (MPS) Italy is the oldest surviving bank in the world.

4
After 1400, political forces turned against the methods of the Italian free enterprise
bankers. In 1401, King Martin I of Aragon expelled them. In 1403, Henry IV of England
prohibited them from taking profits in any way in his kingdom. In 1409, Flanders
imprisoned and then expelled Genoese bankers. In 1410, all Italian merchants were
expelled from Paris. In 1401, the Bank of Barcelona was founded. In 1407, the Bank of
Saint George was founded in Genoa. This bank dominated business in the Mediterranean.
In 1403 charging interest on loans was ruled legal in Florence despite the traditional
Christian prohibition of usury. Italian banks such as the Lombards, who had agents in the
main economic centres of Europe, had been making charges for loans. The lawyer and
theologian Lorenzo di Antonio Ridolfi won a case which legalised interest payments by
the Florentine government. In 1413, Giovanni di Bicci de’Medici appointed banker to the
pope. In 1440, Gutenberg invents the modern printing press although Europe already
knew of the use of paper money in China. The printing press design was subsequently
modified, by Leonardo da Vinci among others, for use in minting coins nearly two
centuries before printed banknotes were produced in the West.

By the 1390s silver was short all over Europe, except in Venice. The silver mines at
Kutná Hora had begun to decline in the 1370s, and finally closed down after being sacked
by King Sigismund in 1422. By 1450 almost all of the mints of northwest Europe had
closed down for lack of silver. The last money-changer in the major French port of
Dieppe went out of business in 1446. In 1455 the Turks overran the Serbian silver mines,
and in 1460 captured the last Bosnian mine. The last Venetian silver grosso was minted in
1462. Several Venetian banks failed, and so did the Strozzi bank of Florence, the second
largest in the city. Even the smallest of small change became scarce.

Western banking history

Modern Western economic and financial history is usually traced back to the coffee
houses of London. The London Royal Exchange was established in 1565. At that time
moneychangers were already called bankers, though the term "bank" usually referred to
their offices, and did not carry the meaning it does today. There was also a hierarchical
order among professionals; at the top were the bankers who did business with heads of
state, next were the city exchanges, and at the bottom were the pawn shops or
"Lombard"'s. Some European cities today have a Lombard street where the pawn shop
was located.

After the siege of Antwerp, trade moved to Amsterdam. In 1609 the Amsterdamsche
Wisselbank (Amsterdam Exchange Bank) was founded which made Amsterdam the
financial centre of the world until the Industrial Revolution.

Banking offices were usually located near centers of trade, and in the late 17th century,
the largest centers for commerce were the ports of Amsterdam, London, and Hamburg.
Individuals could participate in the lucrative East India trade by purchasing bills of credit
from these banks, but the price they received for commodities was dependent on the ships

5
returning (which often didn't happen on time) and on the cargo they carried (which often
wasn't according to plan). The commodities market was very volatile for this reason, and
also because of the many wars that led to cargo seizures and loss of ships.

6
History of Banking in India

Without a sound and effective banking system in India it cannot have a healthy economy.
The banking system of India should not only be hassle free but it should be able to meet
new challenges posed by the technology and any other external and internal factors.

For the past three decades India's banking system has several outstanding achievements
to its credit. The most striking is its extensive reach. It is no longer confined to only
metropolitans or cosmopolitans in India. In fact, Indian banking system has reached even
to the remote corners of the country. This is one of the main reason of India's growth
process.

The government's regular policy for Indian bank since 1969 has paid rich dividends with
the nationalisation of 14 major private banks of India.

Not long ago, an account holder had to wait for hours at the bank counters for getting a
draft or for withdrawing his own money. Today, he has a choice. Gone are days when the
most efficient bank transferred money from one branch to other in two days. Now it is
simple as instant messaging or dial a pizza. Money have become the order of the day.

The first bank in India, though conservative, was established in 1786. From 1786 till
today, the journey of Indian Banking System can be segregated into three distinct phases.
They are as mentioned below:

Early phase from 1786 to 1969 of Indian Banks


Nationalisation of Indian Banks and up to 1991 prior to Indian banking sector Reforms.
New phase of Indian Banking System with the advent of Indian Financial & Banking
Sector Reforms after 1991.
To make this write-up more explanatory, I prefix the scenario as Phase I, Phase II and
Phase III.

Phase I

The General Bank of India was set up in the year 1786. Next came Bank of Hindustan
and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of
Bombay (1840) and Bank of Madras (1843) as independent units and called it Presidency
Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was
established which started as private shareholders banks, mostly Europeans shareholders.

In 1865 Allahabad Bank was established and first time exclusively by Indians, Punjab
National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and
1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank,
and Bank of Mysore were set up. Reserve Bank of India came in 1935.

7
During the first phase the growth was very slow and banks also experienced periodic
failures between 1913 and 1948. There were approximately 1100 banks, mostly small. To
streamline the functioning and activities of commercial banks, the Government of India
came up with The Banking Companies Act, 1949 which was later changed to Banking
Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of
India was vested with extensive powers for the supervision of banking in india as the
Central Banking Authority.

During those days public has lesser confidence in the banks. As an aftermath deposit
mobilisation was slow. Abreast of it the savings bank facility provided by the Postal
department was comparatively safer. Moreover, funds were largely given to traders.

Phase II

Government took major steps in this Indian Banking Sector Reform after independence.
In 1955, it nationalised Imperial Bank of India with extensive banking facilities on a large
scale specially in rural and semi-urban areas. It formed State Bank of india to act as the
principal agent of RBI and to handle banking transactions of the Union and State
Governments all over the country.

Seven banks forming subsidiary of State Bank of India was nationalised in 1960 on 19th
July, 1969, major process of nationalisation was carried out. It was the effort of the then
Prime Minister of India, Mrs. Indira Gandhi. 14 major commercial banks in the country
was nationalised.

Second phase of nationalisation Indian Banking Sector Reform was carried out in 1980
with seven more banks. This step brought 80% of the banking segment in India under
Government ownership.

The following are the steps taken by the Government of India to Regulate Banking
Institutions in the Country:

1949 : Enactment of Banking Regulation Act.


1955 : Nationalisation of State Bank of India.
1959 : Nationalisation of SBI subsidiaries.
1961 : Insurance cover extended to deposits.
1969 : Nationalisation of 14 major banks.
1971 : Creation of credit guarantee corporation.
1975 : Creation of regional rural banks.
1980 : Nationalisation of seven banks with deposits over 200 crore.
After the nationalisation of banks, the branches of the public sector bank India rose to
approximately 800% in deposits and advances took a huge jump by 11,000%.

Banking in the sunshine of Government ownership gave the public implicit faith and
immense confidence about the sustainability of these institutions.

8
Phase III

This phase has introduced many more products and facilities in the banking sector in its
reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was
set up by his name which worked for the liberalisation of banking practices.

The country is flooded with foreign banks and their ATM stations. Efforts are being put to
give a satisfactory service to customers. Phone banking and net banking is introduced.
The entire system became more convenient and swift. Time is given more importance
than money.

The financial system of India has shown a great deal of resilience. It is sheltered from any
crisis triggered by any external macroeconomics shock as other East Asian Countries
suffered. This is all due to a flexible exchange rate regime, the foreign reserves are high,
the capital account is not yet fully convertible, and banks and their customers have
limited foreign exchange exposure.

9
A Brief Profile of the Bank

Widely known for customer centricity, Canara Bank was founded by Shri Ammembal
Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a
small port in Karnataka. The Bank has gone through the various phases of its growth
trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal,
especially after nationalization in the year 1969, attaining the status of a national level
player in terms of geographical reach and clientele segments. Eighties was characterized
by business diversification for the Bank. In June 2006, the Bank completed a century of
operation in the Indian banking industry. The eventful journey of the Bank has been
characterized by several memorable milestones. Today, Canara Bank occupies a premier
position in the comity of Indian banks. With an unbroken record of profits since its
inception, Canara Bank has several firsts to its credit.

These include:

• Launching of Inter-City ATM Network

• Obtaining ISO Certification for a Branch

• Articulation of ‘Good Banking’ – Bank’s Citizen Charter

• Commissioning of Exclusive Mahila Banking Branch

• Launching of Exclusive Subsidiary for IT Consultancy

• Issuing credit card for farmers

• Providing Agricultural Consultancy Services

Over the years, the Bank has been scaling up its market position to emerge as a major
'Financial Conglomerate' with as many as nine subsidiaries/sponsored institutions/joint
ventures in India and abroad. As at March 2009, the Bank has further expanded its
domestic presence, with 2729 branches spread across all geographical segments. Keeping
customer convenience at the forefront, the Bank provides a wide array of alternative
delivery channels that include over 2000 ATMs- one of the highest among nationalized
banks- covering 705 centres, 1362 branches providing Internet and Mobile Banking
(IMB) services and 2062 branches offering 'Anywhere Banking' services. Under
advanced payment and settlement system, all branches of the Bank have been enabled to
offer Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer
(NEFT) facilities.

10
Not just in commercial banking, the Bank has also carved a distinctive mark, in various
corporate social responsibilities, namely, serving national priorities, promoting rural
development, enhancing rural self-employment through several training institutes and
spearheading financial inclusion objective. Promoting an inclusive growth strategy,
which has been formed as the basic plank of national policy agenda today, is in fact
deeply rooted in the Bank's founding principles. "A good bank is not only the financial
heart of the community, but also one with an obligation of helping in every possible
manner to improve the economic conditions of the common people". These insightful
words of our founder continue to resonate even today in serving the society with a
purpose. The growth story of Canara Bank in its first century was due, among others, to
the continued patronage of its valued customers, stakeholders, committed staff and
uncanny leadership ability demonstrated by its leaders at the helm of affairs. We strongly
believe that the next century is going to be equally rewarding and eventful not only in
service of the nation but also in helping the Bank emerge as a "Global Bank with Best
Practices". This justifiable belief is founded on strong fundamentals, customer centricity,
enlightened leadership and a family like work culture.

Late Sri Ammembal Subbarao Pai

Founded as 'Canara Bank Hindu Permanent Fund' in 1906, by late Sri.


Ammembal Subba Rao Pai, a philanthropist, this small seed
blossomed into a limited company as 'Canara Bank Ltd.' in 1910 and
became Canara Bank in 1969 after nationalization.

"A good bank is not only the financial heart of the community, but
also one with an obligation of helping in every possible manner to improve the economic
conditions of the common people" - A. Subba Rao Pai.

Founding Principles

1. To remove Superstition and ignorance.


2. To spread education among all to sub-serve the first principle.
3. To inculcate the habit of thrift and savings.
4. To transform the financial institution not only as the financial heart of the
community but the social heart as well.
5. To assist the needy.
6. To work with sense of service and dedication.
7. To develop a concern for fellow human being and sensitivity to the surroundings
with a view to make changes/remove hardships and sufferings.

11
Sound founding principles, enlightened leadership, unique work culture and remarkable
adaptability to changing banking environment have enabled Canara Bank to be a frontline
banking institution of global standards.

Significant Milestones

Year
1st July Canara Hindu Permanent Fund Ltd. formally registered with a capital of
1906 2000 shares of Rs.50/- each, with 4 employees.
1910 Canara Hindu Permanent Fund renamed as Canara Bank Limited
1969 14 major banks in the country, including Canara Bank, nationalized on July
19
1976 1000th branch inaugurated
1983 Overseas branch at London inaugurated
Cancard (the Bank’s credit card) launched
1984 Merger with the Laksmi Commercial Bank Limited
1985 Commissioning of Indo Hong Kong International Finance Limited
1987 Canbank Mutual Fund & Canfin Homes launched
1989 Canbank Venture Capital Fund started
1989-90 Canbank Factors Limited, the factoring subsidiary launched
1992-93 Became the first Bank to articulate and adopt the directive principles of
“Good Banking”.
1995-96 Became the first Bank to be conferred with ISO 9002 certification for one of
its branches in Bangalore
2001-02 Opened a 'Mahila Banking Branch', first of its kind at Bangalore, for catering
exclusively to the financial requirements of women clientele.
2002-03 Maiden IPO of the Bank
2003-04 Launched Internet & Mobile Banking Services
2004-05 100% Branch computerization
2005-06 Entered 100th Year in Banking Service
Launched Core Banking Solution in select branches
Number One Position in Aggregate Business among Nationalized Banks
2006-07 Retained Number One Position in Aggregate Business among Nationalized
Banks.
Signed MoUs for Commissioning Two JVs in Insurance and Asset
Management with international majors viz., HSBC
(Asia Pacific) Holding and Robeco Groep N.V respectively
2007-08 Launching of New Brand Identity
Incorporation of Insurance and Asset Management JVs
Launching of 'Online Trading' portal
Launching of a ‘Call Centre’
Switchover to Basel II New Capital Adequacy Framework
2008-09 The Bank crossed the coveted Rs. 3 lakh crore in aggregate business
The Bank’s 3rd foreign branch at Shanghai commissioned

As at March 2009, the total business of the Bank stood at Rs. 3,25,112 crore.

12
Vision

To emerge as a ‘Best Practices Bank’ by pursuing global benchmarks in profitability,


operational efficiency, asset quality, risk management and expanding the global reach.

Mission

To provide quality banking services with enhanced customer orientation, higher value
creation for stakeholders and to continue as a responsive corporate social citizen by
effectively blending commercial pursuits with social banking.

Awards/Accolades

Received during 2007-08

• First National Award, instituted by the Ministry of Micro, Small & Medium
Enterprises, Govt. of India for 'Excellence in Micro & Small Enterprises (MSE)
Lending' for 2006-07.

• 'Golden Peacock Award for Corporate Social Responsibility' for the year 2007.
Canara Bank is the first PSB to receive the award since its institution in the year
1991.

• ‘Golden Peacock National Training Award-2007’, instituted by the Institute of


Directors, New Delhi, a pioneer in Quality Revolution.

• Conferred the Business Superbrands Status for 2008.

• 'The Organization of the Year Award- for PR Excellence', instituted by Public


Relations Council of India.

• Excellence in the field of Khadi & Village Industries in South Zone for the year
2006-07, instituted by Khadi & Village Industries Commission, Ministry of
Micro, Small & Medium Enterprises, Government of India.

Received during 2008-09

• Conferred 'First Rank' in India's Best Banks awards under the category 'Strength
and Soundness' for 2006-07 by a survey conducted by Ernst & Young.

• Best Performing Bank under Rural Employment Generation Programme, (REGP)


of Khadi and Village Industries Commission (KVIC), in South Zone for the year
2007-08, instituted by the Ministry of MSME, Government of India.

13
• Golden Peacock National Training Award 2008 for excellence in training.

• Global HR excellence in Training, an award conferred by the Asia Pacific HR


Congress, the largest rendezvous of HR Professionals, at its Employer Branding
Talent Management Congress held on 22nd and 23rd August 2008, Delhi.

• Best Corporate Social Responsibility Practice Award, instituted by BSE,


NASSCOM and Times Foundation.

The Bank won two Silver Corporate Collateral Awards for Best Corporate Ad in the Print
Media and Best Corporate Film on Corporate Social Responsibility at the Public
Relations Council of India Awards 2009.

Canara bank helps you in planning to own a home by buying a flat or building a house.
The bank offers you loan for constructing a new house or for doing additions or
renovation in the existing house. Anyone from salaried individual to self-employed
persons can take the home loan by fulfilling certain criteria and documentation for the
entitlement of the loan. Even NRIs can apply for home loan offered by Canara Bank.

Canara bank has a wide array of network opened in the country to help people in
banking. As at December 2007 bank has network of 2641 branches spread all over India.
Bank has over 1900 ATMs, covering 680 centers, over 1100 branches providing Internet
and Mobile Banking (IMB) services and more than 1833 branches offering 'Anywhere
Banking' services. Now more than 1693 branches of the Bank offer advanced payment
and settlement system under Real Time Gross Settlement (RTGS) and National
Electronic Funds Transfer (NEFT).

Institution Information

Head Office
Canara Bank
112, J C Road
BANGALORE
Bangalore - 560 002
Karnataka
India
Website
http://canarabank.com/
No. of branches
2641
No. of ATMs
1900
Customer Care Numbers

14
BANGALORE: 080-25586087, CHENNAI: 044 - 24344638, DELHI: 011
- 26415331, KOLKATA: 033-22807899
Products / Services

Credit Cards

Canara Bank offers a credit card named CANCARD that provides both convenience and
quality services to the cardholders. It is a widely accepted card under the principal
membership of Visa International and Master card International. The bank offers free
insurance cover under the card.

The bank has set a liberal credit limit of minimum gross income of Rs 60,000 per annum
to avail the card. There is no maximum amount for accumulation and you earn bonus
points on using the card.

CANCARD VISA CLASSIC

• Liberal Card limit


• Get 30% of your gross annual income with a maximum of Rs.3.00 lakhs. Fixing
up of the limit is at the sole discretion of Canara Bank.
• Cash withdrawal facility at designated 450 branches all over India
• Cash withdrawal at Canara Bank ATMs.
• No Interest on cash withdrawal if paid by the due date. If not paid by the DUE
DATE, interest is charged from DUE DATE only and not from the DATE OF
CASH WITHDRAWAL.
• Opt for Revolving Payment system and pay only 5% of the billed amount and
defer the payment.
• No financial charges! i.e., interest on other transactions subsequent to cash
withdrawal till the cash withdrawal is repaid.

CANCARD VISA CORPORATE

• Liberal Card limit


• Get 30% of your gross annual income with a maximum of Rs.3.00 lakhs. Fixing
up of the limit is at the sole discretion of Canara Bank.
• Cash withdrawal facility at designated 450 branches all over India
• Cash withdrawal at Canara Bank ATMs.

15
• No Interest on cash withdrawal if paid by the due date. If not paid by the DUE
DATE, interest is charged from DUE DATE only and not from the DATE OF
CASH WITHDRAWAL.
• Opt for Revolving Payment system and pay only 5% of the billed amount and
defer the payment

CANCARD MASTERCARD

• Liberal Card limit


• Get 30% of your gross annual income with a maximum of Rs.3.00 lakhs. Fixing
up of the limit is at the sole discretion of Canara Bank.
• Cash withdrawal facility at designated 450 branches all over India .
• Cash withdrawal at Canara Bank ATMs.
• No Interest on cash withdrawal if paid by the due date. If not paid by the DUE
DATE, interest is charged from DUE DATE only and not from the DATE OF
CASH WITHDRAWAL.
• Opt for Revolving Payment system and pay only 5% of the billed amount and
defer the payment.
• No financial charges! i.e., interest on other transactions subsequent to cash
withdrawal till the cash withdrawal is repaid.
• Date of Billing: Last day of every calendar month
• Payment due date : 20 th of every calendar month.

CANCARD VISA INTERNATIONAL GOLD

• Liberal Card limit


• Get 30% of your gross annual income with a maximum of Rs.3.00 lakhs. Fixing
up of the limit is at the sole discretion of Canara Bank.
• Cash withdrawal facility at designated 450 branches all over India.
• Cash withdrawal at Canara Bank ATMs.
• No Interest on cash withdrawal if paid by the due date. If not paid by the DUE
DATE, interest is charged from DUE DATE only and not from the DATE OF
CASH WITHDRAWAL.
• Opt for Revolving Payment system and pay only 5% of the billed amount and
defer the payment

16
Saving Accounts

Canara Bank savings account can be opened singly / jointly, as minor account, by non-
corporate bodies, societies, associations, etc. The minimum balance required to open an
account is Rs 500/- without cheque book and Rs 1000/- with cheque book in
Metro/Urban whereas in Semi-urban/Rural Branches the account can be opened with Rs
100/- without cheque book and Rs 500/- with cheque book. You have to fulfill
documentation criteria laid down by the bank for opening an account. Bank gives an
interest which is compounded half-yearly on the minimum balance in the account
between the10th and the last day of the month.

SAVINGS BANK ACCOUNT

• NATURE OF DEPOSIT: Running (Operating) account.


• PERIODICITY OF INTEREST PAYMENT: Interest is payable half-yearly, every
February and August on the minimum balance in the account, between the 10th
and last day of the month.
• SPECIAL RATE FOR SENIOR CITIZEN-Not applicable
• SPECIAL RATE FOR BULK DEPOSITS- Not applicable
• TDS- Not applicable

Highlights
Bank Canara Bank
Category Regular
Minimum AQB Metro/Urban - Rs.500/- without cheque book & Rs.1000/-
(Average Quarterly with cheque book
Balance) Semi-urban/Rural Branches - Rs.100/- without cheque book
& Rs.500/- with cheque book
Interest Rate 3.5%
Card Offered ATM cum Debit Card

CANSARAL SAVINGS ACCOUNT

• An SB product designed for the common man to provide a basic banking facility
as part of the financial inclusion objective of RBI.
• MINIMUM DEPOSIT The account can be maintained even with zero balance.
• WITHDRAWAL/ DEPOSIT:
o Permitted through withdrawal order form, cheque and ATM cum Debit
Card
o Maximum 6 withdrawals per month including drawings through ATM free
of charge. For withdrawals exceeding 6 per month would be levied a
service charge at the rate not exceeding Rs.5/- per withdrawal at the
discretion of the branch.

17
o The minimum amount that may be deposited/ withdrawn “IN CASH” in
an account is as prescribed by the bank from time to time. Currently
minimum deposit or withdrawal “IN CASH” is Rs.10/-. In case of
withdrawal through ATM, the minimum amount is Rs.100/- (Currently).
• TDS- Exempted

Highlights
Bank Canara Bank
Category Regular
Minimum AQB An account can be opened with an initial deposit of Rs. 25/-. The
(Average Quarterly account can be maintained even with zero balance.
Balance)
Metro/Urban - Rs.500/- without cheque book & Rs.1000/- with
cheque book
Semi-urban/Rural Branches - Rs.100/- without cheque book &
Rs.500/- with cheque book
Interest Rate 3.5%
Card Offered None

SB GOLD SCHEME (CBS branches only)

• NATURE OF DEPOSIT Running (Operating)account


• PERIODICITY OF INTEREST PAYMENT Interest is payable half yearly, every
February and August on the minimum balance in the account, between the 10th
and last day of the month.
• SPECIAL RATE FOR SENIOR CITIZEN Not applicable

• SPECIAL RATE FOR BULK DEPOSITS Not applicable
• TDS Not applicable
• LOAN AGAINST DEPOSIT Not permitted
• VALUE ADDED FACILITIES:
o DD facility at 50% concession i.e. Re.1/- per Rs.1000/- or part thereof
o Funds transfer under NEFT and RTGS(Canspeed) at 50% concession
o Free Debit Card (as per Bank's rules for issue of Debit Cards)
o Issue of free Credit Card to the 1st account holder (for others as per
existing rules of the Bank)
o Waiver of demat account opening charges.
o Free Anywhere Banking (AWB) facility.
o Sweep-in Sweep-out facility: Sweep-in into term deposit of amounts
beyond Rs.1,00,000/- at the request(one time) of the customer mentioning
the tenor of the term deposit.
o Name printed cheque book.
o Free funds transfer facility through our Internet Banking
o Free Telebanking facility.

18
o No ledger folio charges.

Highlights
Bank Canara Bank
Category Privileged Account
Minimum AQB Initial Balance Minimum Rs. 1,00,000/-

(Average Quarterly Minimum average monthly balance of


Balance) Rs.1,00,000/-
Interest Rate 3.50%
Card Offered ATM cum Debit Card

Fixed Deposits

Canara bank fixed deposit can be opened individually or jointly and on behalf of minor a
guardian can open an account. The account can be opened with Rs 1000/- and there is no
maximum ceiling for investment. Loan can be taken up to 90% of the deposit amount.
There is no penalty on pre-mature closure.

7 days to 14 days
Effective From: Jul 2, 2009
Tenure 7 - 14 Days
Amount 1 - 1500000 Rs
Interest Rate 2.50 / annually

7 days to 14 days
Effective From: Jul 2, 2009 Senior Citizen
Tenure 7 - 14 Days
Amount 1 - 1500000 Rs
Interest Rate 3.00 / annually

15 days to 30 days
Effective From: Jul 2, 2009
Tenure 15 - 30 Days
Amount 1 - 1500000 Rs
Interest Rate 3.00 / annually

19
15 days to 30 days
Effective From: Jul 2, 2009 Senior Citizen
Tenure 15 - 30 Days
Amount 1 - 1500000 Rs
Interest Rate 3.50 / annually

31 days to 45 days
Effective From: Jul 2, 2009
Tenure 31 - 45 Days
Amount 1 - 1500000 Rs
Interest Rate 3.50 / annually
31 days to 45 days
Effective From: Jul 2, 2009 Senior Citizen
Tenure 31 - 45 Days
Amount 1 - 1500000 Rs
Interest Rate 4.00 / annually

46 days to 90 days
Effective From: Jul 2, 2009
Tenure 46 - 90 Days
Amount 1 - 1500000 Rs
Interest Rate 4.50 / annually

46 days to 90 days
Effective From: Jul 2, 2009 Senior Citizen
Tenure 46 - 90 Days
Amount 1 - 1500000 Rs
Interest Rate 5.00 / annually

91 days to 179 days


Effective From: Jul 2, 2009
Tenure 91 - 179 Days
Amount 1 - 1500000 Rs
Interest Rate 5.25 / annually

91 days to 179 days

20
Effective From: Jul 2, 2009 Senior Citizen
Tenure 91 - 179 Days
Amount 1 - 1500000 Rs
Interest Rate 5.75 / annually

180 days to 269 days


Effective From: Jul 2, 2009
Tenure 180 - 269 Days
Amount 1 - 1500000 Rs
Interest Rate
6.25 / annually

180 days to 269 days


Effective From: Jul 2, 2009 Senior Citizen
Tenure 180 - 269 Days
Amount 1 - 1500000 Rs
Interest Rate 6.75 / annually

270 days to less than 1 year


Effective From: Jul 2, 2009
Tenure 270 - 365 Days
Amount 1 - 1500000 Rs
Interest Rate 6.50 / annually

270 days to less than 1 year


Effective From: Jul 2, 2009 Senior Citizen
Tenure 270 - 365 Days
Amount 1 - 1500000 Rs
Interest Rate 7.00 / annually

1 year & above to less than 2 years


Effective From: Jul 2, 2009
Tenure 365 - 730 Days
Amount 1 - 1500000 Rs
Interest Rate 7.00 / annually

1 year & above to less than 2 years


Effective From: Jul 2, 2009 Senior Citizen
Tenure 365 - 730 Days

21
Amount 1 - 1500000 Rs
Interest Rate 7.50 / annually

2 years & above to less than 3 years


Effective From: Jul 2, 2009
Tenure 730 - 1095 Days
Amount 1 - 1500000 Rs
Interest Rate 7.25 / annually

2 years & above to less than 3 years


Effective From: Jul 2, 2009 Senior Citizen
Tenure 730 - 1095 Days
Amount 1 - 1500000 Rs
Interest Rate 7.75 / annually

3 years & above to less than 5 years


Effective From: Jul 2, 2009
Tenure 1095 - 1825 Days
Amount 1 - 1500000 Rs
Interest Rate 7.50 / annually

3 years & above to less than 5 years


Effective From: Jul 2, 2009 Senior Citizen
Tenure 1095 - 1825 Days
Amount 1 - 1500000 Rs
Interest Rate 8.00 / annually

5 years & above


Effective From: Jul 2, 2009
Tenure 1825 - 1825 Days
Amount 1 - 1500000 Rs
Interest Rate 7.50 / annually

5 years & above


Effective From: Jul 2, 2009 Senior Citizen
Tenure 1825 - 1825 Days
Amount 1 - 1500000 Rs
Interest Rate 8.00 / annually

22
Loans

Personal Loan
Canara bank has a range of personal loan to help you meeting the cost of various personal
needs. The various categories of personal loan are Can Mahila exclusive scheme for
women, Doctors’ Choice designed for medical practitioners to help them in meeting their
professional needs, Can Cash (Loan against Shares) you can take instant cash against
shares/ debentures / bonds / units, Can Budget loan scheme for the benefit of employees
of Corporates, PSUs, Government Departments, Institutions, etc., Can Pension loan
scheme for senior citizens, Teachers loan to meet their needs, Swarna loan (Gold loan)
loan against gold jewellery / ornaments, Can Rent loan for owners of the property to meet
their business needs and / or genuine personal needs, against rents receivable, Can Tech
loan for professionals working in reputed information technology and biotechnology
companies, Home improvement loan for furnishing house / flat with household furniture
items, air conditioners, etc.

Highlights
Salaried Self Employed
Loan Type Term Loan Term Loan
Loan Amount Min. - Rs 50000 Min. - Rs 50000
Max. - Rs 1500000 Max. - Rs 1500000
Tenure Min. - 12 Yrs. Min. - 12 Yrs.
Interest Rate Min. - 14.5 % Min. - 14.5 %
Max. - 14.5 % Max. - 14.5 %
Time to Process Loan 5 days 5 days

Education Loan
Canara bank offers education loan under Vidyasagar to needy and meritorious Indian
students. High school students can also avail education loan. Loan can be taken for job
oriented courses at degree level and advanced studies for post –graduation for study in
abroad.

Highlights
Study Abroad Study India
Course Graduation Post Graduation
Loan Type Term Loan Term Loan
Loan Purpose Loans are also provided Loans are provided for
for studying abroad for studying abroad for job
job oriented courses at oriented courses at degree
degree level and level and advanced
advanced studies in all studies in all areas for

23
areas for post-graduation. post-graduation.
For payment of fees to
school/college and for
purchase of books, hostel
fees, examination fees,
etc.
Loan Amount Min. - Rs 50000 Min. - Rs 50000
Max. - Rs 400000 Max. - Rs 400000
Margin Money 15 % 5%
Tenure Min. - 1 Yrs. Min. - 1 Yrs.
Interest Rate - Upto Rs.4 lakhs - - Upto Rs.4 lakhs -
12.50% 12.50%
Time to Process Loan 7 days 7 days

Car Loan
Canara Bank offers loan to buy your own luxury car. The bank provides loan upto 90% of
the on road price and there is no ceiling on the maximum loan amount. For used cars,
which are not older than 5 years, bank finance 75% of the agreed price or 75% of the
value of the car, as assessed by an automobile engineer or Rs.6 lakh whichever is lower.

Highlights

New Car Used Car


Loan Type Term Loan Term Loan
Ex-Showroom/On Road On Road On Road
Loan Amount Min. - Rs 50000 Min. - Rs 50000
Tenure Min. - 12 Yrs. Min. - 12 Yrs.
Interest Rate 12 % 12.5 %
Time to Process Loan 7 days 7 days
Preferred Manufacturers Chevrolet, FIAT, Ford, Chevrolet, FIAT, Ford,
GENERAL MOTORS GENERAL MOTORS
INDIA, HINDUSTAN INDIA, HINDUSTAN
MOTORS, Honda, MOTORS, Honda,
Hyundai, Mahindra, Hyundai, Mahindra,
Maruti, Mercedes-Benz, Maruti, Mercedes-Benz,
Mitsubishi, Nissan, Reva, Mitsubishi, Nissan, Reva,
SAN Engineering, Skoda, SAN Engineering, Skoda,
Tata Motors, Toyota Tata Motors, Toyota

24
Home Loan
Canara bank helps you in planning to own a home or you want to build your home / buy a
flat. You name it and bank has offer for you whether you want to construct a new house
or you want to do additions in your existing house. Moreover you can take loan for
renovation of your house /flat, etc. Salaried individual, self-employed persons, running
your own business, etc, anyone can take home loan by fulfilling certain criteria for the
entitlement and the documentation formalities for the loan. Even NRIs can apply for
home loan.

Highlights
Loan Amount Min. - Rs 100000
Max. - Rs 10000000
Time to Process Loan 7 days
Interest Rates

Tenure Interest Type Interest Rate Offer

20 - 25 Yrs. Fixed 12%

15 - 20 Yrs. Fixed 12%

10 - 15 Yrs. Fixed 12%

5 - 10 Yrs. Fixed 12%

1 - 5 Yrs. Fixed 12%

15 - 20 Yrs. Floating 10.75%

10 - 15 Yrs. Floating 10.75%

5 - 10 Yrs. Floating 10.50%

1 - 5 Yrs. Floating 11.25%

25
SERVICE CHARGES

Lockers
Type of Locker Population group wise Base Rate Rupees per annum
Type Locker Size in inches Metro Urban Semi-Urban Rural
A 5 x 6 x 21 700 600 550 550
B 6 x 7 x 21 800 700 600 600
C 5 x 13 x 21 900 800 700 700
D 7 x 9 x 21 900 800 700 700
H-1 13 x 7 x 21 1200 1200 1100 1100
E 6 x 16 x 21 1300 1200 1100 1100
F 11 x 13 x 21 1900 1750 1500 1500
G 7 x 20 x 21 2200 2000 1800 1800
H 12 x 16 x 21 2800 2500 2000 2000
L 16 x 20 x 21 3500 3000 2500 2500
• The above are base rates and may vary from place to place. The rent indicated are
per annum rates.

DEMAND DRAFT / TT/ PAY ORDER / LOCAL DD / BANKERS' CHEQUE


(a) Drafts/TT Issue - OUTSTATION
Amount INDIVIDUALS
OTHER THAN
ranging OTHER THAN
INDIVIDUAL RURAL
From - To RURAL
Upto and
inclusive of Rs. 30/- Rs. 25/- Rs. 20/-
Rs. 1000/-
Above
Rs.1000/-
Rs. 50/- Rs. 40/- Rs. 30/-
upto Rs.
10000/-
Rs. 3.25 per Rs. 1000/- Rs. 3/-per Rs. 1000/-
Rs. 3.50 per Rs. 1000/- or
or part thereof or part thereof
Above Rs. part thereof minimum of
minimum of Rs. 40/- minimum of Rs.30/-
10000/- Rs. 50/- Maximum Rs.
Maximum Rs. 12000/- Maximum Rs. 10000/-
12000/- per DD
per DD per DD
Note: 1. For TTs, in addition to DD charges as above, actual OPEs / telegram charges
subject to a minimum of Rs. 50/- shall be collected. 2. For multiple DDs issued in lieu
of single DD, commission as applicable for the aggregate amount alone shall be
collected.

26
(b) Drafts/TT Issue - LOCAL (Local DD / Pay Order / Banker's Cheque Issue)
Amount INDIVIDUALS
OTHER THAN
ranging OTHER THAN
INDIVIDUAL RURAL
From - To RURAL
Upto and
inclusive of Rs. 30/- Rs. 25/- Rs. 20/-
Rs. 1000/-
Above
Rs.1000/-
Rs. 40/- Rs. 35/- Rs. 30/-
upto Rs.
10000/-
Above Rs.
Rs. 3/- per Rs. 1000/- or Rs. 2.75 per Rs. 1000/- Rs. 2.50 per Rs. 1000/-
10000/-
part thereof minimum of or part thereof or part thereof
Upto Rs.
Rs. 40/- minimum of Rs. 35/- minimum of Rs.30/-
1.00 lakh
Rs. 1.75 per Rs. 1000/- Re. 1.50 per Rs. 1000/-
Rs. 2.00 per Rs. 1000/- or
or part thereof with or part thereof with
Above Rs. 1 part thereof with minimum
minimum of Rs. 275/- minimum of Rs. 250/-
lakh of Rs. 300/- Maximum Rs.
Maximum Rs. 10000/- Maximum Rs. 7500/-
10000/- per DD
per DD per DD
(c) Issue of DD / TT / PO / BC against tender of cash (both for local / Outstation)
(applicable to all branches Up to Rs. 1000/- no additional charges. Above Rs. 1000/-
rural and other than rural, additional charges at 20% (extra) on applicable charges,
individuals and non rounded off to next Re. For denominations below Rs. 100/-
individuals) 50% extra on normal charges.

Note :
(i) The above charges for remittance against tender of cash are only indicative rates.
However, the bank has the discretion to levy higher rates depending on the
circumstances, subject to maximum of 200% of applicable normal charges.
(ii)For retirement of bills against tender of cash, additional charges of Rs. 100/- flat per
bill shall be collected in addition to bills collection charges.

(d) Cancellation of Demand Draft / Pay Order / Local DD / Banker's Cheque


INDIVIDUALS
Amount ranging OTHER THAN
From - To INDIVIDUAL OTHER THAN
RURAL
RURAL
Rs. 50/- per
Up to Rs. 10 lakh Rs. 100/- per DD Rs. 75/- per DD
DD
Above Rs. 10 lakh (other Rs. 1000/- per DD Rs. 750/- per DD Rs. 500/- per

27
than Local) DD

Note : For DDs cancelled, charges may be recovered to the extent of their value, if the
amount is less than or equal to Rs. 100/75/50 as the case may be

ATM
Replacement Charges ATM cum Debit Card Rs.50/-
Transaction Charges for Partner banks NIL
Transaction Charge for Non-Partner banks Rs. 50/-

Credit Cards
Charges / Fees applicable as on 30.09.2008 (Service
Tax as applicable extra)
Canara Visa
Canara Visa CanaraVisa
Classic/ Master
S/No Fees / Charges /Master Card Corporate
Card Standard
Gold Cards Cards
Cards
1 Entrance Fees Nil Nil Rs. 250
2 Annual Fees Nil Nil Rs. 400
Add on Cardm (card
3 Rs. 300 Rs.750 Nil
inactivity fees *)
Card inactivity fees * (Main
4 Rs. 400 Rs. 750 Nil
Card)
Service charges on
5 2.5% p.m. (30% p.a.) from the due date
outstanding balances
6 Cash withdrawal charges Rs. 30 per thousand or part thereof
7 Hot listing charges Rs. 150.00
Other charges
Mark up in case of
8 transaction in foreign Upto 3% of the amount
currency
9 Duplicate Statement Rs. 10 per page
Cheque dishonour charges or
10 unsuccessful payment Rs. 50 per occasion
instructions
Domestic transaction Rs. 100/-
11 Copy of the Charge slip
International transaction USD 10 or equivalent

28
Original Charge Slip
12 if processed by our Bank USD 2 or equivalent
Procured from other Bank USD 6 or equivalent
Collection charges for
13 Rs. 100 per instrument + other bank charges if any
outstation cheques
Charges in respect of notices
14 / reminders sent to Rs. 50/- per notice
cardholders having overdues.
Delayed payment beyond
due date
15 For cards with revolving 2% of the amount with minimum of Rs. 10.00 and
credit facility maximum of Rs. 150.00
2% of the amount with minimum of Rs. 20.00 and
Non revolver cards
maximum of Rs. 300.00
16 Return of FTV - First Return Rs. 100.00
Each subsequent return Rs. 300.00

* Card inactivity fee is applicable only if the Card turnover during a Card year (a period
of one year from the date of issuance of card) is less than Rs. 12000/- for Visa Classic /
Master Card Standard and less than Rs. 25000 for Visa / MasterCard Gold.

** For all Cards issued on or after 01.09.2008, No annual, entrance, inactivity fees is
applicable for the next five years.

Debit Cards
Charges / Fees applicable as on 30.09.2008 (Service
Tax as applicable extra)
S/No Fees / Charges
1 Entrance Fees Nil
2 Annual Fees Nil
No charges for using our ATM . Use at other Banks
3 Cash withdrawal charges
ATM – as levied by the respective Bank
4 Hot listing charges Rs. 150.00
Other charges
Mark up in case of transaction
5 Upto 3% of the amount
in foreign currency
Domestic transaction Rs. 100/- International
6 Copy of the Charge slip
transaction USD 10 or equivalent

29
Original Charge Slip if
USD 2 or equivalent
7 processed by our Bank
Procured from other Bank USD 6 or equivalent

CHEQUE COLLECTION
Outstation Inward / Outward Collection of Outstation cheques / instruments such
cheque as DDs/ Dividend / Interest Warrants, Refund Orders, Income Tax
collection Refund orders etc. (other than bills)
INDIVIDUALS
Amount ranging
OTHER THAN INDIVIDUAL OTHER THAN
From - To RURAL
RURAL
Up to Rs.
Rs. 50/- per instrument
10000/-
Rs.10,001/- to
Rs. 100/- per instrument
Rs. 1,00,000/-
Rs. 1,00,001
Rs. 150/- per instrument
and above

NOTE :
1.The above charges are per instrument fixed tariffs and all inclusive charges applicable
to both individual and other than individual customers irrespective of the population
group. No additional charges such as courier charges, out of pocket expenses etc., should
be collected from the customers.
2. For instruments directly sent to other public sector banks, RRBs sponsored by our
Bank for want of our branch at the drawee center, commission as mentioned above will
be shared on 50:50 basis.
3. For instruments directly sent to Private Sector Banks/Foreign Banks/Co-operative
Banks/RRBs sponsored by other Banks/any other Banks, for want of our branch at the
drawee center, full commission as mentioned above will be levied, apart from charges
levied by other banks.

NEFT Money Outward : Upto Rs 1 lac- Rs 5/- per transaction


Inward = NIL
transfer Above Rs 1 lac –Rs 25/- per transaction
RTGS Money Outward : Rs 1 lac to Rs 5 lac- Rs 25/- per transaction
Inward = NIL
transfer Above Rs 5lac - Rs 50/- per transaction
SFMS (IFN Outward Rs 1/- per Rs 1000/- or part there of subject to a
Inward = NIL
100) minimum of Rs20/- and a maximum of rs 2000/-.
Credit/Debit =
ECS
NIL
CHEQUE RETURN CHARGES
A. Cheque return charges - LOCAL

30
Outward Returns Inward Returns
Return of Inward Instruments (Inward
Return of Outward Instruments
Local Cheques / instruments received
( Outward Local Cheques /
for payment but returned to other
instruments including Local Clearing
Banks / Branches) Only in case of the
Cheques / LOSCs etc., lodged by
cheque / instruments being returned
customers for collection and returned
for want of funds / similar reasons (to
PARTI to us by other Banks / Branches ) –
be debited from our drawer customer's
CULARS collected as handling charges.
account)
OTHER INDIVIDUALS INDIVIDUALS
OTHER
THAN
OTHER THAN OTHER
INDIVI
THAN RURAL INDIVI THAN RURAL
DUAL
RURAL DUAL RURAL
For Rs. 30/- per Rs. 25/- per Rs. 20/- per Rs. 75/- per Rs. 50/- per Rs. 40/- per
Savings cheque / cheque / cheque / cheque / cheque / cheque /
Accounts instrument instrument instrument instrument instrument instrument
For
Current, Rs. 60/- per Rs. 50/- per Rs. 40/- per Rs. 150/- Rs. 100/- Rs. 80/- per
OD / cheque / cheque / cheque / per cheque / per cheque / cheque /
OCC instrument instrument instrument instrument instrument instrument
Accounts
B, Dishonour of cheques - OUTSTATION

31
Outward returns Inward returns
Return of Outward Instruments
Return of Inward Instruments (Inward
(Outward Outstation Cheques /
Outstation Cheques / Instruments
Instruments including OSCs lodged by
received for payment but returned to
customers for collection and returned to
other Banks / Branches)
us by other Banks / Branches
INDIVIDUALS INDIVIDUALS
OTHER THAN OTHER OTHER THAN OTHER
Both INDIVIDUAL THAN RURAL INDIVIDUAL THAN RURAL
for RURAL RURAL
SB &
For Cheques / Instruments Returned
CA / For Cheques / Instruments Returned
Unpaid : 50% of applicable collection
OD / Unpaid : 50% of applicable collection
charges, with a minimum of Rs. 25/- +
OCC charges, with a minimum of Rs. 25/-.
Postage
For Bills returned Unpaid : 50% of
For Bills returned Unpaid : 50% of
applicable collection charges, with a
applicable collection charges, with a
minimum of Rs. 75/- + Postage
minimum of Rs. 75/- + Postage
If the instrument is returned for want of
funds / similar reasons additional charges
as applicable to local cheque return (para
8. A. above) is to be collected / debited
from our drawer customer's Account

ISSUE OF CHEQUES BOOKS


Cheque Book Issue : SB / CA / OD / OCC Accounts
INDIVIDUALS
OTHER THAN
Particulars OTHER THAN
INDIVIDUAL RURAL
RURAL
i) Where MICR is operational Rs. 2.50 per cheque Rs. 2.50 per Rs. 2.00 per
MICR Cheques leaf cheque leaf cheque leaf
ii) Where MICR is not Rs. 1.50 per cheque Rs. 1.50 per Rs. 1.00 per
operational – MICR cheques leaf cheque leaf cheque leaf
Rs. 1.50 per cheque Rs. 1.50 per Rs. 1.00 per
- Non MICR Cheques
leaf cheque leaf cheque leaf
Free Cheque leaves for SB
40 leaves free 40 leaves free 60 leave fre
Account in a calendar year

Note: (1) The MICR / Non-MICR cheques charges for SB accounts are levied only for
the additional leaves issued in excess of the free entitlement.

32
(2) No concession in case of Current Accounts of Govt / Govt departments, Religious /
Welfare / Charitable institutions etc. and SB Accounts other than individuals such as
HUF, Associations, Societies, Clubs, Schools etc.

NO DUE CERTIFICATE
INDIVIDUALS
OTHER THAN
No Due Certificate OTHER THAN
INDIVIDUAL RURAL
RURAL
Issue of No Due Rs. 50/- per Rs. 30/- per
Rs. 100/- per certificate
Certificate certificate certificate
For Individuals : Concessional tariff of Rs. 10/- for Agriculture and Priority Sector
Advances. No charges for Govt Sponsored Schemes

OTHER CHARGES

FOREIGN EXCHANGE TRANSACTIONS

Service/Product/Account Particulars Service Charges


Remittance Individual Rs.100/-
Outward For Others Rs.450/-
Remittance Rs. 100/- per payment (waived, if the
Inward beneficiary is an individual)
Inter bank rate plus 0.15% = TT selling plus
0.5% = TC selling rate is arrived. Additionally
TCs – Selling
bank is collecting 1% on the Rupee equivalent
payable by the customer as commission.
TCs – Inter bank rate minus 0.08% = TT Buying rate
Encashing minus 1% = TC Buying rate ( encashment )
TCs - Foreign
Currency
Interbank rate plus 0.15% = TT Selling plus
(NOTES ) :
0.5% = TC selling + 0.5% = Foreign currency
Foreign
selling.
Currency notes
selling
Foreign
TC buying minus 1% is Currency Buying
Currency notes
( encashment )
encashing

33
SAVINGS BANK ACCOUNTS

Service/Product/Account Service charges


Charges for non-maintenance of Minimum Balance
(applicable for both Operative and In-operative
Flat Charge of Rs. 20/- per month
accounts) :
( to be collected once in a month on
When the balance falls below the applicable
last working day)
minimum for the respective branch / account
category :
Issue of Loose Cheque leaves :
NIL

Mode of calculation of Minimum balance :Charges for non-maintenance of minimum


balance on any day / any number of days during the month

Note : For Senior Citizens (60 years and above), charges for non-maintenance of
minimum balance in SB account is waived.

Current Accounts :

Charges for non-maintenance of Minimum


Balance
(applicable for both Operative and In- Rs. 50/- per day. Maximum Rs. 250/- per
operative accounts) : calendar month ( to be collected once in a
When the balance falls below the applicable month on last working day).
minimum for the respective branch /
account category :
Charges for In-operative Accounts (Half Yearly Service Charge)
a. If balance in the account is above the
applicable minimum (for particular branch
category, for without cheque book slab), No
charge.
(i) In-operative SB Accounts b. If balance is below applicable minimum,
service charge of Rs. 30/- or available balance
whichever is lower, is to be collected half yearly
(for inoperative accounts other than unclaimed
deposits).
a. If balance in the account is above the
applicable minimum (for particular branch
category), No charge.
b. If balance is below applicable minimum,
(ii ) In-operative Current Accounts
service charge of Rs. 50/- or available balance
whichever is lower, is to be collected half yearly
(for inoperative accounts other than unclaimed
deposits).

34
Note: Service charges for in-operative SB / Current Accounts to be collected on half-
yearly basis are in addition to the charges for non-maintenance of minimum balance (to
be levied monthly)

OUTWARD / INWARD COLLECTION OF BILLS :(Clean, Documentary, Demand /


Usance including supply bills)

Particulars Charges
Upto Rs. 10000/- Rs. 100.00
Rs. 8/- per Rs. 1,000/- or part there of with a
Above Rs.10,000/- up to Rs.10.00 lakh
minimum of Rs. 100/-
Rs. 7/- per Rs. 1,000/- or part thereof with a
Above Rs.10.00 lakhs minimum of Rs. 8000/- and maximum of Rs.
15000/-
For Bills / Cheques returned unpaid,
Charges
the following charges will be levied:
As given in para 8. A. under Cheque Return
Local Bills
charges
As given in para 8. B. under Dishonour of
Outstation Bills
outstation cheques.

RETAIL LOAN
LOAN PROCESSING CHARGES
Sl/No SCHEMES ProcessingCharges Minimum(Rs.) Maximum(Rs.)
01 Housing Loan 0.5% 500.00 10000.00
Home
02 Improvement 0.5% 500.00 10000.00
Loan
Can Mobile(four
03 0.1% 250.00 500.00
wheelers)
Can Mobile(two
04 0.1% 100.00 250.00
wheelers)
05 Can Budget 0.5% 100.00 500.00
06 Can Rent 0.5% NA NA
07 Can Mortgage 0.5% NA NA
Can
Workg Capital – Rs.100/- per lac (Max Rs 1 lac) Term Loan –
08 Trade/Trader’s
1% of the loan amt (No Max)
Scheme
09 Can Cash 0.1% 100.00 250.00
10 Teachers’ Loan 1% 50.00 NA

35
11 Swarna Loan 1% 50.00 500.00
12 Can Mahila 0.5% 100.00 500.00
13 Can Travel 0.5% 250.00 500.00
14 Can Tech 0.5% 200.00 1000.00
15 Can Jewel 0.5% 250.00 1000.00
16 Can Tool NIL
17 Can Site As applicable to Housing Loan Scheme
18 Can Value No Processing Charges
19 Can Pension No Processing Charges
Up to Rs. 25000/- - NIL
–Above Rs. 25000/- Working Capital – 0.1% of the loan amount
20 Doctors’ Choice
with a minimum of Rs. 250/-. Term Loan – 1% of the loan
amount

Prepayment
Charges
2% on the outstanding liability in case of take over of
the loan by other bank / FI
RETAIL
LOAN Commission on solvency certificate shall be at the rate
of 0.10% with a minimum of Rs. 500/- and maximum of
Rs. 10000/- per certificate.
Solvency
Certificate
Charges for late
NIL - only penal interest collected.
payment of EMI

CASH HANDLING CHARGES

FOR CASH REMITTANCE TO CA / OD / OCC ACCOUNTS

No charges for cash remittances of up to Rupees One Lakh per day per account.

For cash deposits above Rs. 100000/-, cash handling charges @ Re. 1/- per Rs. 1000/- or
part thereof shall be collected, subject to a minimum of Rs. 100/- and a maximum of Rs.
2500/- per transaction.

Cash handling charges shall be collected from customers for remitting cash to the credit
of their CA / OD / OCC accounts, at the base branch only.

36
The charges are uniformly applicable to all branches.

If a customer makes two or more remittances of cash in a day, cash handling charges shall
be collected, if the total remittance during the day exceeds the exempted limit of Rupees
One Lakh.

Customers are exempted from cash handling charges for remitting cash to their SB
accounts irrespective of the amount.

Safe Custody charges


(a) Sealed Cover /
Rs.500/- min per cover p.a., or its multiples
Packet
Rs.25/- per scrip with a minimum of Rs. 250/- p.a. or part there
(b) Scrips
of
(c) Sealed Box
10x10x10cc Minimum Rs. 500 p.a. or its multiples
20x20x20cc Minimum Rs.1000 p.a. or its multiples
30x30x30cc Minimum Rs.1500 p.a. or its multiples

Note: The above charges are only indicative. Depending upon the size of the
box/cover/packet Branch can charge higher in consultation with CO.

Standing instruction charges (SB / CA / OD / OCC Etc.)


(a) For transfer of funds within the Rs. 30/ per debit (No charges for Standing
same branch Instruction to loan / RD / Deposit Accounts of Self)
Exemptions : The above charges of Rs 30/- per transaction for transfer of fund under
standing instructions within the same branch is not applicable in the following cases : 1.
Guardian’s a/c to minor’s a/c. 2. Between a/cs of parents and children. 3. Between the
accounts of the spouses. 4. From Co-obligant’s account to the credit of Borrower’s
account
(b) For transfer of funds to other Rs. 30/ per debit plus actual remittance charges +
branches and outside agencies out of pocket expenses

LEDGER FOLIO CHARGES - CURRENT A/C / OD / OCC / KCC / PL/ KCCS


Rs.100/- per ledger page (40 entries or part thereof shall be treated as one page) shall be
collected on half yearly basis ( September & March) in case of current accounts and on
quarterly basis in case of operating credit limit accounts like OD / OCC / KCC / PL /
KCCS etc., (i.e. all credit limits other than single transaction limits and bills / cheque
limits). Number of free folios per half year (in case of current account) / per quarter in
case of operative credit limits (OD / OCC etc) available are as under:

37
If Daily Average Credit Balance in the account is Number of folios free
Upto Rs. 50000/- NIL
Above Rs. 50000/- up to Rs. 100000/- 3 ledger page
Above Rs.100000/- up to Rs. 200000/- 5 ledger page
Above Rs.200000/- up to Rs. 500000/- 10 ledger page
Above Rs.500000/- No folio charges.

Note: For SB accounts, no folio charges.

OTHER BASIC BANKING SERVICES

FOR INDIVIDUAL PENSIONERS / SENIOR CITIZENS, IRRESPECTIVE OF


POPULATION GROUP, CHARGES AS APPLICABLE TO RURAL SHALL APPLY

INDIVIDUALS
OTHER THAN OTHER THAN
Particulars INDIVIDUAL RURAL RURAL
(A) ISSUE OF PASS BOOK (OR STATEMENT)/ ISSUE OF BALANCE
CERTIFICATE (Including Interest certificates)
(A) Issue of Pass Book/ Pass Sheets
(a) SB Accounts
(i) Pass Sheets : First set free of charges in a month for all categories
Rs. 20/- per page. Rs. 10/- per page. Rs. 10/- per page.
Minimum Rs. Minimum Rs. Minimum Rs.
Additional set / copies 40/- per occasion 30/- per occasion 20/- per occasion
(ii) Computerised Pass Books : No Charges
(b) Current / OD / OCC Accounts
Pass Sheets : First set free of charges in a month
Rs. 30/- per page. Rs. 20/- per page. Rs. 20/- per page.
Minimum Rs. Minimum Rs. Minimum Rs.
2nd Set / Additional set 80/- per occasion 60/- per occasion 60/- per occasion
(B) ISSUE OF BALANCE CERTIFICATES / INTEREST CERTIFICATES
Rs.50/- per Rs.25/- per Rs.15/- per
Certificate. 2 nd Certificate. 2 nd Certificate.2 nd
Copy Rs. 75/- per Copy Rs. 40/- per Copy Rs 30/- per
a. Balance Certificates certificate certificate certificate

38
1st Certificate : 1st Certificate : 1st Certificate :
b. Interest Certificates Free 2nd Copy : Free 2nd Copy : Free 2nd Copy :
(Interest Paid / Interest Rs. 75/- per Rs. 40/- per Rs. 30/- per
Collected Certificates) certificate certificate certificate

ISSUE OF DUPLICATE PASS BOOK OR STATEMENT / PASS SHEET


With latest entry /
(a) Duplicate Pass With latest entry / With latest entry /
balance Rs. 30/- per
Book / Pass sheet / balance Rs. 75/- per balance Rs. 50/- per
pass book / pass sheet
Statement pass book / pass sheet pass book / pass sheet

Rs. 40/- per additional Rs. 25/- per additional Rs. 10/- per additional
(b) Additional page
page or part thereof. page or part thereof. page or part thereof.
/ sheet
Minimum Rs. 100/- Minimum Rs. 50/- Minimum Rs. 30/-

Note : 40 entries or part thereof is treated as one page / sheet


STOP PAYMENT : (Stop payment instructions / revocation of instruction)
a) For Instructions : ( Stop payment instructions including for range of Cheques /
blank cheques / cheque book lost etc).
Rs. 75/- per cheque. Rs. 50/- per cheque. Rs. 30/- per cheque.
(1) SB Accounts (Maximum Rs. 500 per (Maximum Rs. 250 (Maximum Rs. 200
occasion) per occasion) per occasion)
Rs. 100/- per Rs. 100/- per
Rs. 200/- per
(2) CA / OD / cheque. (Maximum cheque. (Maximum
cheque.(Maximum Rs.
OCC Rs. 500 per Rs. 500 per
600 per occasion)
occasion) occasion)
b) Cancellation /
Rs. 20/- flat (SB / Rs. 10/- flat (SB /
Revocation of Rs. 30/- flat (SB / CA)
CA) CA)
Instruction

BALANCE ENQUIRY ( Including Inquiries for old records)


a) Inquiries up to six months :
SB / CA / OD (All type of
Free of Charge Free of Charge Free of Charge
Accounts)
b) Entries above 6 months up to 1 yr old :
(i) Savings Bank Accounts
Rs. 75/- per entry. Rs. 50/- per entry. Rs. 25/- per entry.
:
(ii) Current Account / OD
Rs. 150/- per entry. Rs. 100/- per entry. Rs. 50/- per entry.
/ OCC A/cs
(iii) Other type of Same as applicable Same as applicable Same as applicable
accounts : to SB to SB to SB

39
Note: For entries above one year old, Branch manger has discretion to levy extra charges
to (b) above, based on time spent / work involved. Copies of documents / cheques etc at
customer's cost.

ACCOUNT CLOSURE : (Closure of SB / CA before one year)


a) SB Accounts -
(i) With Cheque Book Rs. 150/- per Rs. 100/- per Rs. 50/- per
facility account account account
(ii) Without Cheque Book Rs. 100/- per Rs. 50/- per Rs. 25/- per
facility account account account
Rs. 750/- per Rs. 500/- per Rs. 150/- per
b) Current Accounts
account account account
Exemptions: (1) Transfer from branch to branch. (2) Opening another account in joint names. (3)
Death of the account holder

SIGNATURE VERIFICATION
Signature Verification including Rs. 30/- per
Rs. 100/- per Rs. 50/- per
attestation of customer's signature attestation /
attestation / case. attestation / case.
/ photos case..

DEMAND DRAFT
A DEMAND DRAFT REVALIDATION : (both for local and outstation)
Rs. 75/- flat per Rs. 50/- flat per
Revalidation of DD / Local DD Rs. 25/- flat per DD
DD DD
B DEMAND DRAFT DUPLICATE ISSUANCE (both for local and outstation)
Rs. 100/- per
Rs. 75/- per DD, Rs. 50/- per DD, upto
Issue of Duplicate DD DD, upto Rs.
upto Rs. 10000/- Rs. 10000/-
10000/-
50% of 50% of
applicable applicable 50% of applicable
commission commission commission subject
- For DDs above Rs. 10000/-
subject to subject to to minimum of Rs.
minimum of Rs. minimum of Rs. 50/- per DD
100/- per DD 75/- per DD

Collection of Dividend / Interest Warrants / Refund Orders for Individuals –


Concession
Concession to individual No concession If value of If value of
customers instrument is up instrument is up to

40
to Rs. 500/-, No Rs. 500/-, No
charges. Only charges. Only OPE
OPE + Postage + Postage
For instruments above Rs. 500/-
Normal Collection charges

TARIFF STRUCTURE FOR AWB / CBS CHARGES.

i) INTRACITY TRANSACTIONS (Branches located in the same centre)


Type of Transaction Revised charges for AWB / CBS branches
SB Accounts Free
CA / OD / OCC Accounts
No Charges
Up to Rs. 25000/- perday
a) Remittance of Cash Re. 1/- per Rs. 1000/- or part
thereof
Above Rs. 25000/-
Minimum Rs. 25/-
Maximum Rs. 5000/-
b) Cash withdrawal Free
c) Funds transfer Free
d) Clearing Free
e) Issue of DDs Normal DD charges
ii) INTERCITY TRANSACTIONS : (Outstation Branches)
Type of Transaction Revised charges for AWB / CBS branches
SB Accounts Free
CA / OD / OCC Accounts
No Charges
Up to Rs. 25000/- per day
(a) Remittance of Cash Re. 1/- per Rs. 1000/- or part
thereof
Above Rs. 25000/-
Minimum Rs. 25/-
Maximum Rs. 12000/-
SB Accounts Free
CA / OD / OCC Accounts
No Charges
(b) Cash withdrawal Up to Rs. 25000/- per day
Re. 1/- per Rs. 1000/- or part
Above Rs. 25000/-
thereof Minimum Rs. 25/-
Up to Rs. 1,00,000/- Rs. 5/- per transaction
(c) Funds Transfer
Rs. 1,00,001/- to Rs. Rs. 25/- per transaction
For all types of accounts
5,00,000/-
( SB / CA / OD / CC )
Rs. 5,00,001/- and above Rs. 50/- per transaction

41
Re.1/- per Rs. 1000/- or part
(d) Deposit of cheques at thereof
All Accounts
drawee centers Minimum Rs. 25/-
Maximum Rs. 12000/-
(e) Issue of DDs Normal DD charges
Up to Rs. 10,000/-
Rs. 50/- per instrument
Rs. 10,001/- to Rs.
(f) OSC Rs. 100/- per instrument
1,00,000/-
Rs. 150/- per instrument
Rs. 1,00,001 and above

NOTE : The above Osc charges are per instrument fixed tariffs and all inclusive charges
applicable to both individual and other than individual customers irrespective of the
population group. No additional charges such as courier charges, out of pocket expenses
etc., should be collected from the customers.

POSTAL TARIFF / OUT OF POCKET EXPENSES

Postal Tariff should be collected in all cases wherever applicable, including where at par
facilities are granted, as follows:
a) Ordinary Post Actual – Minimum Rs. 10/- per envelope
b) Regd / Courier Actual – Minimum Rs. 30/- per envelope
c) Telegram / Fax / Telephone $ $ Only at
Actual – Minimum Rs. 50/- per message
the request of customer
Note :: 1) Postages / Out of Pocket expenses are in addition to service charges applicable.
2) If two or more instruments favouring a single party are sent to the same branch / office
of a bank together, in common single cover by post, in such cases postal tariff mentioned
above as applicable to single cover / instrument may be collected. 3) If a single
instrument is collected and credited to number of accounts actual / minimum postage may
be shared amongst beneficiaries subject to minimum of Re.1/- per credit / customer.

42
Ratio Analysis

EARNINGS RATIOS
Mar ' Mar ' Mar '
Ratio 08 07 06
Income from Fund Advances as a % of Op Income 63.61 64.87 60.31
Operating Income as a % of Working Funds 14.47 11.74 11.45
Fund based income as a % of Op Income 95.22 96.05 95.37
Fee based income as a % of Op Income 4.77 3.94 4.62

PROFITABLITY RATIOS
Mar ' Mar ' Mar '
Ratio 08 07 06
Yield on Fund Advances 9.20 7.62 6.91
Break-Even Yield Ratio 9.94 7.44 6.45
Cost of Funds Ratio 6.80 5.09 4.39
Net Profit Margin 9.61 11.60 13.82
Adjusted Return On Net Worth 18.85 17.51 19.13
Reported Return On Net Worth 18.86 17.51 19.13

BORROWING RATIOS
Mar ' Mar ' Mar '
Ratio 08 07 06
Borrowings from RBI as % to Total Borrowings 0.00 47.63 0.00
Borrowings from other banks as a % to Total Borrowings 0.00 0.00 0.00
Borrowings from others as a % to Total Borrowings 100.00 24.74 66.99
Borrowings within India as a % to Total Borrowings 100.00 72.38 66.99
Borrowings from outside India as a % to Total
Borrowings 0.00 27.61 33.00

43
DEPOSIT RATIOS
Mar ' Mar ' Mar '
Ratio 08 07 06
Demand Deposit of Total Deposits 8.60 8.74 8.78
Saving Deposit of Total Deposits 22.89 22.78 24.50
Time Deposit of Total Deposits 68.50 68.47 66.70
Deposits within India as % to Total Deposits 97.07 97.39 97.13
Deposits Outside India as % to Total Deposits 2.92 2.60 2.86

Balance sheet
(Rs in Cr.)
Particular Mar ' 08 Mar ' 07 Mar ' 06
CAPITAL & LIABILITIES
Owners' Fund
Equity Share Capital 410.00 410.00 410.00
Share Application Money 0.00 0.00 0.00
Peference Share Capital 0.00 0.00 0.00
Reserves & Surplus 7,885.63 7,701.11 6,608.86
Loan Funds
154,072.4 142,381.4
Deposits 2 5 116,803.23
Borrowings made by the bank 2,517.23 1,574.35 25.82
Other Liabilities & Provisions 13,438.55 11,651.25 8,860.57
178,323.8 163,718.1 132,708.4
Total 3 6 8

ASSETS
Cash & Balances with RBI 13,364.79 9,095.19 7,914.00

Money at call and Short Notice 4,513.25 7,278.74 4,909.56

Investments 49,811.57 45,225.54 36,974.18

107,238.0
Advances 4 98,505.69 79,425.70

Fixed Assets
Gross Block 4,254.33 4,056.39 1,718.60
Less: Revaluation Reserve 2,204.86 2,242.87 113.38
Less: Accumulated Depreciation 1,337.46 1,195.04 1,030.13

44
Net Block 712.01 618.48 575.09
Capital Work-in-progress 0.00 0.00 0.00

Other Assets 2,684.17 2,994.53 2,909.95

Miscellaneous Expenses not written off 0.00 0.00 0.00


178,323.8 163,718.1 132,708.4
Total 3 7 8

Profit & Loss Account


(Rs in Cr.)
Particular Mar ' 08 Mar ' 07 Mar ' 06
Income :
Operating Income 15,524.19 11,571.85 9,099.08

Expenses
Financial Expenses 10,662.94 7,337.73 5,130.01
Personnel Expenses 1,661.28 1,609.29 1,515.30
Selling Expenses 45.65 39.28 21.61
Adminstrative Expenses 1,789.39 1,226.51 1,300.38
Expenses Capitalised 0.00 0.00 0.00

Operating Expenditure 14,159.26 10,212.81 7,967.30

Operating Profit 1,364.93 1,359.04 1,131.78

Other Recurring Income 750.34 668.65 619.13

Adjusted PBDIT 2,115.27 2,027.69 1,750.91

Provisions Made 41.38 209.19 63.05


Depreciation 169.97 148.18 145.03
Other Write offs 0.00 0.00 0.00

Adjusted PBT 1,903.92 1,670.32 1,542.83

Tax Charges 340.00 250.00 200.00

Adjusted PAT 1,563.92 1,420.32 1,342.83

45
Non Recurring Items 1.09 0.49 0.39
Other Non Cash adjustments 0.00 0.00 0.00

Reported Net Profit 1,565.01 1,420.81 1,343.22

Earnigs Before Appropriation 1,565.01 1,420.81 1,343.22

Equity Dividend 328.00 287.00 270.60


Preference Dividend 0.00 0.00 0.00
Dividend Tax 56.00 48.78 38.00
Retained Earnings 1,181.01 1,085.03 1,034.62

46